Shanghai is experiencing a glut of premium hotels and the hotel industry will face a high vacancy rate if investments in new hotel projects continue unchecked.
Home Inns will expand its Homeinn Plus hotels by 80 to 100 properties this year, as well as launch its Qiake-in guest platform.
Songcheng will invest RMB87 million to acquire 60% holding in famous Tibetan folk opera Jiuzhaigou County Ronzhong Erjia Cultural Productions.
Theme parks in the China market will tend to cluster around : Shanghai Bund, Guangdong province and Hainan.
An airport dedicated to corporate jet operations in Guangzhou’s Nansha district has been designated as a key development for the city this year.
As hotels are rushing to fill vacancies with leisure travel customers the industry is finally on the path to healthy development.
CEO Zhengyao Lu said: “We will invest at least RMB2.5 billion to attract new customers at the beginning and we have unlimited cash reserves to continue.”
China Southern is the only one one of the five major listed Chinese carriers with decreasing profitability. Its decline has lasted for two years.
